Eagle Bancorp, Inc. (NASDAQ:EGBN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $72.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.83% from the company’s previous close.
According to Zacks, “EAGLE BANCORP is the holding company for EagleBank. The Bank is headquartered in Bethesda, Maryland, and conducts full service commercial banking services through nine offices, located in Montgomery County, Maryland and Washington, D.C. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace. “
A number of other analysts also recently weighed in on the stock. BidaskClub downgraded shares of Eagle Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. FIG Partners raised shares of Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 price target for the company in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $67.50.
Eagle Bancorp (NASDAQ EGBN) opened at 63.25 on Tuesday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 20.60 and a beta of 0.72. The company has a 50-day moving average of $62.30 and a 200 day moving average of $60.85. Eagle Bancorp has a 52-week low of $47.20 and a 52-week high of $65.00.
Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.04. Eagle Bancorp had a net margin of 31.79% and a return on equity of 12.17%. The company had revenue of $76.72 million during the quarter, compared to the consensus estimate of $75.41 million. During the same quarter in the prior year, the firm posted $0.71 EPS. On average, equities research analysts anticipate that Eagle Bancorp will post $3.27 EPS for the current year.
In related news, EVP Janice L. Williams sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $63.17, for a total transaction of $631,700.00. Following the completion of the transaction, the executive vice president now directly owns 73,490 shares in the company, valued at approximately $4,642,363.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ronald D. Paul sold 800 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $64.40, for a total transaction of $51,520.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,357 shares of company stock valued at $4,320,949. 8.39% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. increased its position in Eagle Bancorp by 19.4% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,153,740 shares of the financial services provider’s stock worth $136,332,000 after purchasing an additional 350,204 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Eagle Bancorp by 4.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 137,560 shares of the financial services provider’s stock worth $8,708,000 after purchasing an additional 5,667 shares in the last quarter. Colony Group LLC increased its position in Eagle Bancorp by 2.9% during the 2nd quarter. Colony Group LLC now owns 37,734 shares of the financial services provider’s stock worth $2,389,000 after purchasing an additional 1,055 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Eagle Bancorp by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,288 shares of the financial services provider’s stock worth $1,537,000 after purchasing an additional 532 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. increased its position in Eagle Bancorp by 58.0% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 5,150 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 1,890 shares in the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.
About Eagle Bancorp
Eagle Bancorp, Inc is a bank holding company for EagleBank (the Bank). The Bank is the Company’s principal operating subsidiary. The Bank is a chartered commercial bank. As of December 31, 2016, the Bank operated 21 banking offices: seven in Montgomery County, Maryland; five located in the District of Columbia, and nine in Northern Virginia.
Receive News & Ratings for Eagle Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.